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Forex News: Indian Rupee Climbs To Near 4-week High Against

Indian Rupee Climbs To Near 4-week High Against U.S. Dollar

08/01/2022 - 04:55:00 (RTTNews)

(RTTNews) - The Indian rupee advanced against the U.S. dollar in afternoon deals on Monday, as the latter fell across the board and oil prices dropped after weak China data.

oil prices fell as weak manufacturing data from China and Japan fuelled concerns about the demand outlook.

The dollar weakened on expectations that the Fed is likely to adopt a less aggressive stance moving forward.

The Indian rupee touched near a 4-week high of 79.01 against the greenback from Friday's close of 79.34. The rupee is likely to challenge resistance around the 73.5 level.

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